RIYADH: As investor sentiment was fueled by strong earnings, Saudi Arabia’s main TASI index neared 12,500 points last week for the first time since 2006.
At Thursday’s closing bell, TASI edged slightly lower to end at 12,476 and the parallel Nomu market was down 0.23 percent to 25,228.
Shares in recently listed Elm Co. — a digital security firm owned by the Kingdom’s wealth fund — soared almost 50 percent, only two days into listing.
Elsewhere in the Middle East, Bahrain’s BAX and Kuwait’s BKP added 1.4 and 0.9 percent, respectively.
The Egyptian blue-chip EGX30 inched 0.3 percent lower, while indexes of Qatar and Oman closed flat.
Stock markets of Abu Dhabi and Dubai retreated on Friday in line with a fall in oil prices.
Brent crude reached $93.54 a barrel, and US benchmark WTI fell to $91.07 a barrel.
Leading Saudi retail pharma Nahdi Medical Co. said it intends to proceed with an initial public offering of a 30 percent stake on Saudi Arabia’s main index, TASI
Hospital operator Dr. Sulaiman Al Habib Group has posted a 30 percent increase in profit to SR1.37 billion ($367 million) in 2021
Al Rajhi Bank’s board has recommended an increase in the bank’s capital to SR40 billion
Saudi developer Arriyadh Development Co. has seen its net profit increase by 40 percent during 2021
Saudi travel agency Almosafer has partnered with Hong Kong’s Klook Travel Technology to establish a joint venture for digital travel services
Saudi Arabia’s stock exchange has approved the listing of SR13.2 billion worth of government debt instruments
Al Gassim Investment Holding has announced the resignation of CEO Hesham Al-Rabah and the delegation of Muhammad Alsawaji effective March 10
Tihama Advertising and Public Relations Co. seeks to reduce its capital by 71 percent
Saudi Arabian Amiantit has obtained the Capital Market Authority’s approval to reduce its capital from SR320 million to SR99 million
Feb. 20, 2022
Advanced Petrochemical Co. to distribute dividends for the fourth quarter of 2021 at SR0.65 per share, totaling SR140.7 million
Feb. 21, 2022
Saudi Parts Center Co. and Raoom Trading Co. will list on the parallel Nomu market
Bank AlJazira will distribute SR0.35 per share dividends for the second half of the fiscal year 2021